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money on the sidelines and little bit, we do have the crises coming up m may 27, or the debt ceiling issue, our clients can put more money they can find a discount. tracy: a good reminder to everybody they should have three to six months living expenses on the side, don't touch it. we have forgotten about that over the last couple of years because everybody is reaching into the couch for clients to pay the bills. you say you are in 44 countries, 12,000 stocks in your portfolio. how do you manage that many? how do you manage all of that? i can't keep track of my three kids. >> i have for kids, so i'm right there with you. and av clients. we use high efficiency oriented mutual funds to house the difference in stocks over the world. 12,000 different stocks, but we also, tracy, told the portfolio to that large value or the value orientation. the book value is $5 but the market $2.50. there is an intrinsic value. adding two to three basis points over time to my clients portfolios. we are fully invested all across the united states and globally in 244 different countries but we told the va
to unfold and as the debt ceiling once again approaches. indeed, it was made all the more worrisome by the house republican hearing yesterday that focus on the debt ceiling in terms of the possibility of prioritizing our obligations, obligations all emanating from congressional actions. we cannot continue on this dangerous path. hopefully this hearing will serve a constructive opportunity to embrace a different path. i yield back. >> thank you very much, mr. levitt. again, it's my pleasure to welcome secretary jack lew back to the committee on ways and means. we look forward to your testimony. the committee has received your written statement. it will be made a part of the formal record. secretary lew, you're recognized for five minutes. >> thank you, mr. chairman, and thank you, mr. chairman, ranking member levin, for your gracious welcome here today. it's an honor to appear and to visit the president's budget for next year. and i sit here as the chairman noted, surrounded by four decades of memories of many important occasions. when bipartisan cooperation has moved the country for
they have to raise the debt ceiling again or else the u.s. could default on its credit. i think that is the sort of mechanism by which we're going to have more -- somebody is going to have to take some action. the question is how big. the president still on this offensive. i think what we have heard from republicans is they're genuinely impressed that the president has gone to these lengths. he's made them feel comfortable in the meetings but the problem is the president in showing good faith to talk about cutting entitlements and social security, he's angered some democrats and he doesn't have a lot of wiggle room now. he's hoping republicans meet him halfway. the problem still is the taxes. the republicans say they raised it in january. the president got what he wanted, albeit less than he want, but they don't want to do that again. let's have the budget cuts without that. i think that's the problem. as much as the president is wining and dining, i think this is where the sticking point will continue to be. >> you talk about no wiggle room. not only does he have critics on the
a number of the banks. whether it be concerns about the budget or the debt ceiling, it's one of these issues. >> and all of these come as the banks are performing very well. if you want to know whether they are safer, if they are better businesses compared to a year ago, that's another question, right, mary? >> take a look at the revenue. a number of banks would argue, yes, we are safer. but as far as revenue goes, this is speaks to how the businesses are performing. really the growth on the revenue front isn't there. it's either down or very slight increases in revenue growth. you are seeing improvement in profitability as these companies continue to cut costs. they're being very, very aggressive on expense management. and that's helping to drive the bottom line. >> let's get to ww gragranger. this is a big move in today's session. >> there was a company in the machinery and repair business, a good window into the industrial businesses, $240 stock, which is a big stock that people tend not to talk about. they miss sales estimates. sales continue to grow. interesting. they bl
, the debt ceiling is something that is necessary for the operations of government. we will bring a bill forward that will ensure that we do not go into default, but i do think that we should be mindful of how we are going to tell the public we are going to go into the future and pay off these debts. the gentleman has many children and grandchildren. he does not want his kids, nor do i want mine to be shouldering the debt and paying our bills. really committing ourselves not to just borrowing more, not to just taking more from taxpayer dollars, because we have done a lot of that this year already. the gentleman talks about the need to proceed with revenues. we already have close to $650 billion of additional static revenues, taxes that are accounted for because of the fiscal clef deal. it is not that there are no revenues in the mix here. i look forward to working with the gentleman. i appreciate his commitment to longevity in the country, sustaining economic growth or restarting its the we can -- restarting its so that we can sustain it. i yield back. toi think finding a way invest in t
. the houseebt ceiling, will move now to put its priority in place. we will move now early to reassure people that america will pay its debts. we are serious about tackling our problems. affected sequestration your district? guest: it has not. people laugh when you talk government0-pound being forced to lose 10 pounds. closing local air-traffic towers. they think it is a small step in the right direction. host: was it a political victory for republicans? guest: it helped reassure americans that we were serious about making some small but important steps in the right lowerion, walking those levels in was important -- locking those lower levels in was import. i believe we have the political courage to get this done. we have laid out courageous steps on medicare and medicaid to solve those. the president is willing to take some small steps towards us. host: wallace is a republican in dallas. caller: good morning. thank you for taking my call. police officer and i collect revolvers. my comment for the representative is that i have been leery when the government starts talking about protecting my
Search Results 0 to 5 of about 6